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Market Extra: The odds of a September interest-rate hike are dropping

Wall Street thinks that the likelihood the Federal Reserve will pull the trigger on raising rates as early as September is low and getting lower.

On Monday afternoon, federal-funds futures was pricing in an 11% chance of a rate hike when the policy-setting Federal Open Market Committee convenes for a two-day confab on Sept. 20-21, according to CME Group. That figure has been flipping around, but did take a leg lower from 19% after Federal Reserve Gov. Lael Brainard said during a speech that the lack of inflation pressure “makes the case to tighten policy pre-emptively is less compelling.

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